Churchill Asset Management Surpasses Predecessor with $1.5 Billion Fund II

Funding | Jun 10, 2025 | Churchill Asset Management LLC

Churchill Asset Management Surpasses Predecessor with $1.5 Billion Fund II

Churchill Asset Management LLC, an investment-specialist of Nuveen, has announced the final close of its Co-Investment Fund II with $1.5 billion in limited partner commitments. This fund, which significantly exceeds its predecessor by 3.5 times, is focused on generating strong risk-adjusted returns through equity co-investments in U.S. middle market businesses. The fund has drawn equity commitments from a wide range of global investors including sovereign wealth funds, pensions, insurance companies, and high-net-worth individuals. According to Jason Strife, Head of Junior Capital & Private Equity Solutions at Churchill, the fund's success underscores Churchills differentiated model and its ability to offer early access to high-quality investment opportunities. The fund's close highlights the increasing involvement of private wealth in alternative investments, with around 20% of the fund's capital coming from high-net-worth individuals. Churchill Asset Management, supported by its affiliation with Nuveen, continues to cement its position as a leading provider of financing solutions across the capital structure for U.S. middle market firms.

Sectors

  • Private Equity
  • Investment Management

Geography

  • United States – The article focuses on Churchill Asset Management's activities in the U.S. middle market and its base of operations includes New York, Charlotte, Chicago, and Los Angeles.

Industry

  • Private Equity – The article discusses Churchill Asset Management's fundraising activities for a co-investment fund, which involves equity co-investments alongside private equity sponsors.
  • Investment Management – Churchill Asset Management, affiliated with Nuveen, is involved in providing financing solutions and managing commitments across a range of investment strategies.

Financials

  • $1.5 billion – The total amount raised for Churchill Co-Investment Fund II in limited partner commitments.
  • 3.5x – The size by which the Co-Investment Fund II surpassed its predecessor fund.
  • 20% – Proportion of the fund's capital raised from high-net-worth investors.

Participants

NameRoleTypeDescription
Churchill Asset Management LLCFund ManagerCompanyAn investment-specialist of Nuveen focused on providing customized financing solutions to U.S. middle market private equity firms.
NuveenAffiliate CompanyCompanyThe investment manager of TIAA that provides a range of outcome-focused investment solutions and supports Churchill with marketplace relationships.
Jason StrifeHead of Junior Capital & Private Equity SolutionsPersonHe announced the close of Churchill's latest co-investment fund.
Moshe BajnonGlobal Head of Private Wealth & Co-Head of Investor Solutions GroupPersonCommented on the increasing interest of high-net-worth individuals in alternative investment strategies.